机构:
St Edwards Univ, Dept Econ, 3001 S Congress Ave, Austin, TX 78704 USASt Edwards Univ, Dept Econ, 3001 S Congress Ave, Austin, TX 78704 USA
Clements, Matthew
[1
]
机构:
[1] St Edwards Univ, Dept Econ, 3001 S Congress Ave, Austin, TX 78704 USA
来源:
ECONOMIC PAPERS
|
2014年
/
33卷
/
04期
关键词:
asymmetric information;
regulation;
licensing;
D O I:
10.1111/1759-3441.12087
中图分类号:
F [经济];
学科分类号:
02 ;
摘要:
When is it better for the government to provide information, and when is this role better left to the market? I present a simple framework for evaluating this question, where the key factors are the cost of errors based on imperfect information and whether information is eventually revealed to consumers. I then apply the framework to examples.